Variable universal life

Variable universal life insurance

Following the market

Variable universal life insurance offers the potential to build cash value based on the performance of the investment options you choose.

The policy offers greater growth potential when the markets perform well. The tradeoff for this growth is the investment risk – including the potential to lose cash value when markets perform poorly.

Variable universal life insurance benefits

  • Lifetime protection for your loved ones
  • Flexible premiums allow you to adjust your payments, or you can choose a fixed, consistent amount
  • Ability to adjust your benefit amount to align with your changing life.
  • Greater tax-deferred cash value growth potential than non-variable products
  • Choice of investment options based on your risk tolerance

Variable universal life insurance considerations

  • If you do not pay enough premium, the policy may lapse
  • Involves market risk, including loss of principal; sustained market declines can negatively impact policy cash value
  • Loans and withdrawals will impact both the death benefit and policy surrender value
  • Adjusting benefit amounts may require additional underwriting

 

You should consider the investment objectives, risks, charges and expenses of a portfolio and the variable insurance product carefully before investing. The portfolio and variable insurance product prospectuses contain this and other information. You may obtain a copy of the prospectus from your representative. Please read the prospectuses carefully before investing.

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Life insurance products contain fees, such as mortality and expense charges (which may increase over time), and may contain restrictions, such as surrender periods. Variable life insurance products contain fees, such as management fees, fund expenses, distribution fees and mortality and expense charges. The variable investment options are subject to market risk, including loss of principal.

This information is a general discussion of the relevant federal tax laws provided to promote ideas that may benefit a taxpayer. It is not intended for, nor can it be used by any taxpayer for the purpose of avoiding federal tax penalties. Taxpayers should seek the advice of their own advisors regarding any tax and legal issues specific to their situation.

Please keep in mind that the primary reason to purchase a life insurance product is the death benefit.

Policy loans and withdrawals may create an adverse tax result in the event of lapse or policy surrender, and will reduce both the surrender value and death benefit. Withdrawals may be subject to taxation within the first fifteen years of the contract. You should consult your tax advisor when considering taking a policy loan or withdrawal.

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